Home prices rise, but is it just the season?
Home prices are enjoying a very clear upward trend, but the rise in home prices may be a mere side effect of the more active spring and summer buying seasons.
Note... be sure to bookmark the overall S&P/Case-Shiller Dashboard or the Scary Housing Dashboard of the weakest markets for a real-time view of all the markets tracked by S&P.
The latest release of the S&P/Case-Shiller (CSI) home price indices for June reported that the non-seasonally adjusted Composite-10 price index increased 2.18% since May while the Composite-20 index increased 2.33% over the same period.
The latest CSI data clearly indicates that the price trends are experiencing an uptrend through the typically more active spring-summer season and as I recently pointed out, the more timely and less distorted Radar Logic RPX data is continuing to capture notable rising prices driven primarily by seasonality.
The 10-city composite index increased 0.10% as compared to June 2011 while the 20-city composite increased 0.50% over the same period.
Both of the broad composite indices show significant peak declines slumping -31.49% for the 10-city national index and -31.14% for the 20-city national index on a peak comparison basis.
To better visualize today’s results use Blytic.com to view the full release.
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